888 — Business Innovation and Investment (Permanent) Visa

Australia•Oceania

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888 — Business Innovation and Investment (Permanent) Visa

Work PR PathwayThis visa can lead to permanent residency, the right to live and work here indefinitely without renewing your visa.

Program status notice

The subclass 188 (provisional) feeder program was permanently closed to new applications from 31 July 2024. Subclass 888 itself remains open to existing eligible subclass 188 holders; no new entrants can join the pathway.

At a Glance

Processing Time

Varies

Application Fee

3,500 AUD

Stay Duration

Permanently

Renewable

Job Offer

Not Required

Dependents

Not Specified

PR Pathway

Available

Remote Work

Not Required

Apply Now Official Information

Living in Australia

Cost of Living

1% cheaper than United States

Avg SalaryA$67,200

Quality of Life

190/200

Full Country Guide

Overview

Business Innovation and Investment (Permanent) Visa.

The Business Innovation and Investment (Permanent) visa (subclass 888) grants permanent residency to subclass 188 holders who met their stream-specific business or investment obligations in Australia. It covers five streams: Business Innovation, Investor, Significant Investor, Entrepreneur, and Premium Investor.

Holders gain the right to live, work, and study in Australia permanently, access Medicare, sponsor relatives, and apply for citizenship. Eligibility is based on proven commercial performance during the provisional period — no job offer required. State or territory nomination is mandatory.

This visa is ideal for subclass 188 holders who have fulfilled their business or investment commitments in Australia and want to convert to permanent residency.

Annual Cap & Quota

1000

Requirements

ELIGIBILITY REQUIREMENTS

Must hold a qualifying provisional visa (e.g., subclass 188).

Must be nominated by a state or territory government agency.

Must have met all requirements of the provisional visa stream (Business Innovation, Investor, Significant Investor, Entrepreneur, or Premium Investor).

Must demonstrate a successful track record in business or investment in Australia.

Must meet health and character requirements.

Must have complied with all Australian laws, including taxation, superannuation, and workplace relations.

Must have resided in Australia for the required period (varies by stream).

Must demonstrate ongoing commitment to business or investment activities in Australia.

KEY CRITERIA

Education

none or higher

REQUIRED DOCUMENTS

Nomination confirmation from a state or territory government.

Form 1414 (Nomination - Business Skills).

Form 1139A (Statement of Assets and Liabilities Position).

Evidence of business ownership (e.g., company extracts, share registers, partnership agreements).

Financial statements and tax records demonstrating business viability.

Evidence of management involvement (e.g., decision-making records, payroll, strategic planning).

Evidence of residency (e.g., movement records, utility bills, bank statements).

Written declaration of compliance with Australian laws.

Passport and identity documents for all applicants.

Advantages & Considerations

Key Benefits

Live, work, and study in Australia permanently
Enroll in Australia's public healthcare scheme, Medicare
Sponsor eligible relatives for permanent residence
Apply for Australian citizenship, if eligible
Travel to and from Australia for five years

Worth Knowing

This is a permanent visa with specific, rigorous stream-based eligibility criteria
The Australian government has closed the Business Innovation and Investment Program (subclass 188) to new applications, though subclass 888 applications remain active for existing eligible provisional visa holders
The process requires maintaining business or investment activity in Australia during the provisional visa period

Application Process

Check your eligibility and choose the correct stream

Gather your documents

Prepare your application

Apply for the visa online via ImmiAccount

Pay the visa application charge

Provide requested information, including biometrics or medical checks if required

Wait for the outcome

Application Forms

Go to application portal

Form 1414 Nomination - Business Skills class	Fill online
Form 1139A Statement of Assets and Liabilities Position	—
Form 888Optional Business Innovation and Investment (Permanent) visa application (where required by stream)	Fill online

Verified Claims (23)

Last verified Jun 18, 2026

Annual Allocation	1000	immi.homeaffairs.gov.au
Application Steps	Check your eligibility and choose the correct stream; Gather your documents; Prepare your applicatio…	immi.homeaffairs.gov.au
Discontinued Note	The subclass 188 (provisional) feeder program was permanently closed to new applications from 31 Jul…	immi.homeaffairs.gov.au
Fee Breakdown	Base application charge: 3500 AUD	immi.homeaffairs.gov.au
Fees	From AUD 3,500	immi.homeaffairs.gov.au
Forms	Form 1414; Form 1139A; Form 888	immi.homeaffairs.gov.au
Forms · Form 888 · optional	true	immi.homeaffairs.gov.au
Included Nationalities	—	immi.homeaffairs.gov.au

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